Shared Ownership

Shared Ownership

If you are faced with being unable to afford to buy a property outright, you may want to consider Shared Ownership. This guarantees you sole occupancy rights, and allows you to buy a share in your property while paying rent on the remainder.

As well as the usual considerations which need to be made when buying a house, there are additional issues specific to Shared Ownership which you need to think about, such as:

The Rent on the percentage of the property which you don’t own

Your rights regarding ‘Staircasing’ (the process of buying additional shares in your property, until you own it entirely)

You rights regarding ‘Alienation’ (the restriction on selling or underletting your property)

Our solicitors have many years’ experience in advising clients on Shared Ownership, and so will utilise that to ensure that this more complex conveyancing transaction progresses smoothly and efficiently to best suit you.

You can find further information about Shared Ownership in our Legal Resource Centre, or to discuss how this could work for you please contact one of our specialists here